The stock market tanked again today. People are scared. Trading was heavy as people tried to scoop up bargains.

According to the NY Times:

Stocks Plunge Again in Last Hour, Dow Below 8,600

A late-day decline once again pushed stock markets down
sharply Thursday. The Dow Jones industrial average declined
about 7.3 percent or 678.91 points on the day to close at
8,579.19, about 40 percent below its peak close of 14,164.53,
exactly a year ago. The broader Standard & Poor’s 500-stock
index was down nearly 7.6 percent on Thursday

These are scary times. We are at a 40% correction at the moment. Today was the biggest percent drop since the crash of 1987.

67 Thoughts to “8.3 Trillion Dollars Lost Since A Year Ago”

  1. NotGregLetiecq

    A culture war is what we have THIS TIME AROUND, now that the McCain campaign has run out of other ways to try to win. People are screaming “kill him!” at McCain rallies, people scream out “terrorist” and “bomb Obama” when McCain asks “who is the real Barack Obama.” The rallies are filled with Help Save Manassas types and journalists and the two sides are NOT playing nicely.

    And. Now. This.

  2. NotGregLetiecq, 10. October 2008, 22:36
    “AWCheney: it was a joke since you have the same last name as the VP.”

    Ah…that “Darth Vader” threw me. Actually, I was not defending Cheney. If you read what I said carefully, I was essentially calling him a tool of the Bush family, specifically Bush, Sr.

  3. Moon-howler

    NGL,

    Actually, there are a lot of people out there who believe that Obama is an ‘Arab.’ Now, having said that, I was still shocked that the woman got up there and said what she said. I am also shocked to hear ‘Kill him’ and terrorist. I also had someone tell me in complete seriousness that Sarah Palin was a brilliant woman and an independent thinker.

    I used to believe that just the extremes of the political spectrum were at warm. Now I am not sure. Could it be that 80% of the country is involved in the cultural war?

  4. NotGregLetiecq

    No way. Those freaks are not 80 percent of the country. There was a time when we thought Help Save Manassas freaks were the majority of PWC. Now we know there is just Greg, four or five disciples, and a bunch of octogenarians who are frightened by neighbors with dark skin.

    It seems like the extremists are out in large numbers because they are: they’re all at McCain/Palin rallies. Anyone with the ability to see through this B.S. is staying home when the Hate Circus comes to town.

    AWCheney, it was 100 percent a joke. I knew you weren’t defending VPCheney.

  5. Not Me, Bubba

    “I was essentially calling him a tool of the Bush family, specifically Bush, Sr.”

    I may disagree vehemently with Bush Sr.’s policies and views, but he was a Statesman – and he had the chops to back it up. Career in the CIA, UN…. Poppy Bush was a President. His son couldn’t even aspire to be that despite his *ss in office.

  6. Moon-howler

    Bush the Son is trying real hard to be statesmanlike during the economic crisis. I feel much more tolerant of him than I usually do. For all my dislike of him and his policies and politics, I have always felt he was sincere.

    I have said 2 nice things about him. That’s about as good as it gets in one day.

  7. Not enough time or space to educate on that subject Bubba…but you might be able to get some clues from “Career in the CIA, UN….”

  8. DB

    My mom has a matching annuity program with the local schools. For twenty plus years she put in her money, and was matched 100% by MCPS. As of last weekend her account lost 70K. 70K gone..just like that…poof. When one is 62, 70K is hard to part with..

  9. Moon-howler

    DB, it was a horrible week all the way around. Let’s hope last week was rock bottom and things will start to come back soon.

  10. IVAN

    I’ve lost 100k in the last year. Let’s hope things will start turning around soon.

  11. Red Dawn

    IVAN,

    I never knew how RICH ( LOL) I was until I didn’t have it anymore( the DREAM).

    I will not speak for you or the rest of America who thought our portfolios were diverse and told us what it was WORTH….from:the equity in our house(s), 401k’s , simple IRA’s, ETF’s….the TRUTH is,did we OWN it? Did we loose it? It was PAPER, never IN HAND.

    The ONLY thing, that I can say with PROOF that has changed, is OUR FREEDOM ( and constitutional rights) and CONFIDENCE as a NATION, that WE are the PEOPLE…who is running this show?

    I think it is up in smoke, with the HELP of mirrors…..(someone is smokin’ it…lol, maybe not us..but someone is reffing, I mean reaping the benefits…lol

    http://www.youtube.com/watch?v=–gK-K01tzc

    Did you, anyone/me ever HOLD the money? or just invest with HOPE that it would be available?

  12. Not Me, Bubba

    Moon Howler:

    “For all my dislike of him and his policies and politics, I have always felt he was sincere.”

    Never for me. That smirk gave it all away for me.

  13. Not Me, Bubba

    AW Cheney:

    “Not enough time or space to educate on that subject Bubba…but you might be able to get some clues from “Career in the CIA, UN….”

    Not allpeople who work in either place are evil agenda toting policy/special interst group ho’s. For the CIA the world in which they operate is a cynical, manipulative place…the goals of the administration may be one thing. As for the operations officer, a whole different view altogether. They’re no innocent party, but otfentimes the operations/clandestine sector is thrown under the bus for political gain. And for every CIA there is out there, there is a Kremiln counterpart, A MIS counterpart, etc… They live in a dubious world.

  14. Not Me, Bubba

    “DB, it was a horrible week all the way around. Let’s hope last week was rock bottom and things will start to come back soon.”

    Hope in one hand…..x in the other.

    Trust me, we haven’t seen bottom yet. The rabbit hole goes far deeper. I could be wrong, but I don’t believe I am.

  15. Not Me, Bubba

    Red Dawn – couldn’t be more true. I agree 100%

  16. Actually, NMBubba, I knew a few of them back in the Cold War days. You couldn’t move around Washington back then without getting to know a few.

  17. Red Dawn

    I hold STOCK in the research that AWC speaks/PROVES. If you prove HER wrong,I Am SOL.

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